ZTE said it planned to issue no more than 687 million of its Shenzhen-listed A shares with a par value of 1 yuan per share to less than 10 specific subscribers, supporting its plans to invest 42,9 billion yuan over three years in 5G technology.

The pricing and issuance date of the new shares would be determined pending the securities regulator’s approval, it said in a filing to the Shenzhen and Hong Kong stock exchanges.

ZTE and its rival Huawei Technologies are key players in China’s push to be among the world’s first to build a 5G network by 2020. The next generation communication technology is supposed to be at least 10 times faster than the 4G network.

The firm said 9,1 billion yuan of the funds raised would be used for 5G technology research and product development and 3,9 billion yuan to replenish working capital.

“The company expects that 2018 to 2020 will be a crucial period for the formulation and industrialisation of the global standard for 5G technology,” ZTE said in its filing.

The National Peace and Reconciliation Commission, which is a Chapter 12 Independent Commission with the mandate to foster national healing in Zimbabwe, needs to have it’s 10-year mandate reinstated if it is to fulfil its Constitutional mandate. ...